Woolworths Floor-Space Growth to Accelerate in Second Half
Bloomberg - Feb 21st 2012, 08:37
Woolworths Holdings Ltd. (WHL) plans a “big” acceleration in floor-space growth in the second half of the fiscal year, as the South African food and clothing retailer opens its first supermarkets.
“Bringing in the offering of glasses, spoons and clothes along with our food is a no-brainer,” Chief Executive Officer Ian Moir said in a presentation in Johannesburg today. “It breaks my heart when I see a shopping trolley outside our store, while customers are shopping with baskets inside. We plan to change that.” Woolworths will open its first full-line supermarket on April 26 in Johannesburg.
Net income rose to 1.03 billion rand ($131 million) in the six months through Dec. 26, from 775 million rand a year earlier, Cape-Town based Woolworths said in a stock exchange filing today. Sales gained 11 percent to 14.2 billion rand.
The retailer reported an 12 percent gain in food sales in the first half as it raised prices an average of 4.8 percent. Sales of clothing and general merchandise rose 10 percent, as prices increased 7 percent.
Woolworths has converted 50 franchise stores, with a further nine to be converted in the second half. The move has “simplified business in addition to giving more revenue and profit,” Moir said.
The company’s shares fell 1.9 percent to 41.69 rand as of 1:01 p.m. in Johannesburg, paring the gain this year to 6.9 percent. Shoprite Holdings Ltd. (SHP), South Africa’s largest supermarket chain, fell 1.3 percent to 131.71 rand, while Truworths International Holdings Ltd. (TRU), the country’s largest listed clothing retailer, lost 1.1 percent to 78.65 rand.
Woolworths Holdings isn’t related to London-based Woolworths Group Plc, which collapsed in 2008, or Woolworths Ltd., located in Sydney.
Woolworths trials innovative 'circular economy' inspired paper shopping bags
02/09/2019 - 14:30
In its ongoing commitment to phase out single-use plastic shopping bags by 2020, Woolworths has announced its first trial of specially-designed paper bags for fashion, beauty and homeware purchases.
Woolworths cuts final dividend by a quarter as CEO moves to Australia
29/08/2019 - 09:13
Woolworths has cut its final dividend to shareholders by a quarter after a write-down against troubled Australian chain David Jones dragged the high-end retailer to another annual loss.
Woolworths customer wins R1 million grand prize
21/08/2019 - 10:43
Woolworths Financial Services (WFS) is pleased to announce the winner of its Woolies Millionaire competition. The lucky winner received R1 million in a campaign that ran from 10 May to 30 June 2019, targeted at both new and existing credit card customers.
Ackermans, Truworths and Pep lead in customer satisfaction rankings
19/08/2019 - 08:36
Consulta has released its latest South African Customer Satisfaction Index (SA-csi), showing which clothing stores have the highest customer satisfaction ratings.
SAFW competitions offers entry into fashion industry
19/07/2019 - 08:41
It opened the door for David Tlale to showcase his designs at New York Fashion Work, Mmuso Maxwell to supply his garments to retail giant Woolworths and Clinton Lotter to take his work to the UK. Now, South African Fashion Week (SAFW) is once again looking to grow the fashion and creative industry by opening it to emerging designers.